Sound Transit officials are sounding the alarm on a big problem: a multi-billion-dollar budget shortfall for plans that were approved by voters 11 years ago.
Sound Transit staff said they are facing a 20 to 25% increase in costs compared to what’s currently outlined in the Long Range Financial Plan, unless cost-saving measures are applied.
Voters approved the Sound Transit 3 (ST3) System Plan in 2016. The agency says much has changed since then, citing challenges including lower-than-expected revenues, rising costs and uncertainty surrounding tariffs and federal funding commitments…